110 Billion Euros Waste

110 Billion Euros Waste: The Cost Of Inefficient French Government’s Assistance to Companies

The French Government supporting private companies thanks a system of financial assistance: what an economic heresy! Yet, over the last thirty years, it has become the creed for French Governments, whether conservative of leftist. Four figures are to be pointed out:

> 6 000 aids are available for companies.

> 15 000 civil servants are managing these financial aids in the Central administration and local governments.

> 700 million euros is the yearly cost to run this administration.

> 110 billion euros is the total amount of aids given to companies.

And of course, it does not work at all. The French economic growth on Q1 is at -0.2%, unemployment reached 10.8% in May, business context is deteriorating and the economic momentum is non-existent. Do we need any more proofs that Government’s intervention in the economy is a waste of taxpayers’ money?